Parents in Christmas spending vow

16 December 2008 12:09am

Parents are refusing to let the economic downturn spoil their children's Christmas, with more than three-quarters of people saying they will not cut back on presents for their offspring, research showed.

Around 76% of people said they would not reduce the amount they spent on presents for their children this year, while 72% said they would spend at least the same or more on food.

But 64% of people admitted they would be monitoring their festive spending more closely this year, according to MasterCard.

Just over half of people will be spending less on Christmas decorations, 48% will be cutting down on nights out and 47% will spend less on a Christmas tree.

Four out of 10 people will spend less on presents for friends, while a third will buy less alcohol and the same proportion will spend less on gifts for their immediate family.

Just under half of people said they would be using the internet to shop around for the best deals on goods.

Women are more budget conscious than men, with 70% of women saying they would be monitoring their spending more closely this year, compared with 58% of men.

:: Universal McCann questioned 2,511 people during October.

© The Press Association